Costa del Sol, still the best place to invest

Jennie Rhodes

Thursday, 23 February 2023, 14:55 | Updated 15:19h.

Malaga, and especially the Costa del Sol, has become the top province, per thousand inhabitants, for real estate in Spain. This was the message behind a roundtable event hosted by SUR in English in conjunction with Marbella town hall at the Hotel Don Pepe Gran Meliá on Thursday 23 February.

Mayor of Marbella Ángeles Muñoz gave a welcome speech in English, after which five panellists from the property and finance sector debated a wide range of issues, from what has made the Costa del Sol a top destination for tourists and investors alike for over 50 years, to what the future holds for the market and the area.

Vanessa Dávila, Listings and Marketing Executive at The Spanish Estate Agent; Juan Goñi Uriate, CEO of Klik Arquitectos; Félix Romero, first deputy mayor of Marbella; Marc Damian Elliot de Lama, owner and founder of Fluent Finance Abroad; and Setareh Mohregi, director of the international department at Gilmar, all brought their experience and expertise to the debate which looked at the current state as well as what the future holds for the market.

After discussing what the Costa del Sol's 'winning formula' is, the panel moved on to talk about the current 'hot spots' for investors from different countries and whether there has been a shift in recent years in terms of type and nationality of buyer. This point was closely connected to Brexit and the effect that it has had on British investment.

The pandemic and the Russian invasion in Ukraine were themes that ran through the morning as did the rising demand for sustainable homes.

However, the general consensus was that while there have been concerns particularly about rising prices brought about by the ongoing war, the silver lining of the pandemic for the property market and the Costa del Sol as a destination has been a flow of investment as people are keen to realise dreams and 'seize the day'.

Speakers also highlighted a new younger generation of investors, attracted by the ability of working remotely from the Costa del Sol and becoming digital nomads.

The event finished with conclusions from each of the panellists on the issues raised during the debate and the opportunity to network and ask further questions afterwards.

For a full report on the roundtable discussion, see the Property and Investment supplement inside SUR in English on 3 March.